The cost of goods and services rose by four percent in April compared to March this year, according to data released by the Maldives Bureau of Statistics.
The Bureau published the Consumer Price Index (CPI) for April on May 31, which tracks fluctuations in the prices of goods and services.
Prices increased by 4.18 percent compared to March. Furthermore, the cost of goods and services rose by 2.9 percent compared to April of last year.
The most significant price hikes in April were observed in the housing, water, electricity, and gas sectors, where costs surged by 17.29 percent.
While the market price of a bag of cement exceeded MVR 300 in recent months, the CPI indicates that cement prices alone rose by 17 percent in April.
Inflation in the Male' region stood at 3.24 percent, while the cost of goods and services in the atolls saw a higher increase of 5.56 percent.
The impact of rising global oil prices is also being felt in the Maldivian transport sector. Transportation costs have increased by eight percent compared to the same period last year.
The Bureau also published the Essential Commodity Price Index (ECPI) on May 31. The data shows that the prices of essential items have risen by 5.77 percent compared to April last year.
Gas prices surged by 22 percent compared to April last year, while coffee prices rose by 18 percent and fish products increased by 10 percent.
In contrast, the CPI indicates that prices for vegetables and telecommunication services declined during the month of April.
